LG Electronics Pursues Patent for TV with Built-in NFT Trading Features – How Does it Work?
LG Electronics' filing for a blockchain-based smart TV was recently published by the World Intellectual Property Organization (WIPO).
Notably, the company applied for the patent in November 2021. But WIPO’s documentation mandates an 18-month waiting period before such publications implying that the process has been ongoing.
Now, LG awaits the next steps involving thoroughly examining the invention to grant or reject the patent.
The sole aim of the latest invention is to support NFT trading on LG’s Smart TVs. Users can connect their crypto wallet and an NFT market server to trade non-fungible tokens.
After making the connections, an onscreen QR code will guide the transaction through a crypto wallet.
LG launched an NFT platform in September 2022 before releasing this technology. The South-Korean firm launched the NFT platform “LG Art Lab Marketplace” on the Hedera blockchain.
With the launch, smart TVs running webOS 5.0 and later systems could seamlessly trade digital artworks on the big screens.
LG also has a crypto wallet, “Wallypto” facilitating transactions on the NFT marketplace. So, the company has the marketplace and a wallet already.
But it hasn’t been mentioned if the smart TVs will support other third-party apps or use Walltpto exclusively.
As the world goes more digital, big tech companies also follow the trend with various products to enhance user experiences.
Besides the latest move to support NFT trading on its television, LG and even Samsung dabbled into the trending Web 3, Crypto, Blockchain, and Meterverse.
During its annual general meeting in 2022, LG announced plans to expand towards producing and selling software based on the blockchain.
It also mentioned diversifying to the sale and brokerage of
Read more on cryptonews.com
